Purchase Solution

SAS 85

Not what you're looking for?

Ask Custom Question

Question:

SAS 85 requires that auditors obtain a Management Representation letter on matters of audit importance. Discuss the make-up of this letter and the information contained within. Does the letter provide comfort to the auditor? If this is simply a letter stating certain information from the client and is not audited in any way, why is it important?

Purchase this Solution
Solution Summary

SAS 85 is discussed very comprehensively in this explanation.

Solution Preview

SAS 85 requires that auditors obtain a Management Representation letter on matters of audit importance. Discuss the make-up of this letter and the information contained within. Does the letter provide comfort to the auditor? If this is simply a letter stating certain information from the client and is not audited in any way, why is it important?

Question:

SAS 85 requires that auditors obtain a Management Representation letter on matters of audit importance. Discuss the make-up of this letter and the information contained within. Does the letter provide comfort to the auditor? If this is simply a letter stating certain information from the client and is not audited in any way, why is it important?

THE MAKEUP OF THE LETTER:
The Management Representation letter is a letter addressed to the auditor to minimize the misunderstandings between the two and clarify some issues. Normally a management representation letter has items like the effectiveness of the firm's internal control system, the disclosures with respect to noncompliance with law, the extent to which the financial management systems comply with the GAAP, the federal and state laws that have a direct ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
Recent Feedback
  • "I read your comments, and thank you for this feedback. Do I need to find other studies that applied this methodology Ive used? That's where I'm stuck at."
  • "Thank you kindly sir. "
  • "Excellent and well explained. --Thank you kindly. "
  • "Awesome notes. I appreciate you."
  • "I have the follow-up project and I will assign that to you very soon. "
Purchase this Solution
Free BrainMass Quizzes
Operations Management

This quiz tests a student's knowledge about Operations Management

Change and Resistance within Organizations

This quiz intended to help students understand change and resistance in organizations

Business Ethics Awareness Strategy

This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.

Cost Concepts: Analyzing Costs in Managerial Accounting

This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.

Lean your Process

This quiz will help you understand the basic concepts of Lean.

View More Free Quizzes
Related BrainMass Solutions

  • SAS-85 Management Representations Letter

    168026 SAS-85 Management Representations Letter SAS 85 requires that auditors obtain a Management Representation letter on matters of audit importance. Discuss the make-up of this letter and the information contained within.

  • Statistical Analysis in SAS

    Read a csv (comma delimiter) file into SAS and list the contents of the SAS dataset. Replace missing values of "gross_sell_amt" with 0. 2. Read an Excel file into SAS and list the contents of the SAS dataset. 3.

  • Multivariate Analysis with SAS

    This solution is comprised of a detailed multivaraite analysis using SAS software. In this solution, all the analysis is done using SAS and relevant SAS code and output is provided.

  • Split plot experiment analyzed in SAS

    17781 This problem shows how to analyze a split plot experiment in SAS. The analysis of the data was done in SAS using PROC GLM. The SAS program and the output of that program are included in a separate document.

  • Kruskal-Wallace procedure in SAS

    Please see the attached Word document for details, SAS program, and SAS output. This problem was solved using the Kruskal-Wallace procedure. The PROC NPAR1WAY procedure in SAS was the tool for the analysis.

  • One-way analysis of variance (ANOVA)

    The tool for the analysis was SAS. Please see the attached Word document for details, SAS program, and SAS output.

  • Linking Strategy to HRM Practices

    Consider how SAS used organizational strategy to drive HRM practices. What are they doing that is different than most others? How and why did SAS do what they did? What was their goal? How did it work out?

  • SAS Analysis of Variance

    SAS Analysis of Variance

  • SAS 115

    SUBJECT: Challenges of communication in Changes brought about by SAS 115. Step 2 Introduction: There are certain changes that SAS 115 brings by superseding SAS 112.

View More Related Solutions